HEADS OF THE VALLEYS DEVELOPMENT COMPANY TAKES OWNERSHIP OF FTR MOTO October 1 2012.

The group behind the proposed Circuit of Wales motor sport venue in the Blaenau Gwent Valleys of South Wales has taken ownership of one of the world's leading Grand Prix motorcycle manufacturers. The Heads of the Valleys Development Company has acquired the UK-based FTR Moto in what is viewed as a signal of its intent to make Wales one of Europe's premier motor sport locations.

Launched in 2009, FTR Moto was quick to taste Grand Prix success: victory came less than a year after its inception when it won its first World Championship race. Its motorcycles feature in all three classes of Grand Prix motorcycle racing - MotoGP, Moto2 and Moto3. It is intended that the acquisition will eventually lead to sports motorcycles being built on the Circuit of Wales site.

The new organisation will now include one of the directors of the Heads of the Valleys Development Company, Chris Herring. Herring, a former HRC Honda Racing Manager, said of the venture: "The new partnership with FTR Moto represents a significant move for Circuit of Wales. It's a highly successful British engineering firm, which is synonymous with high performance motor sport. We're already receiving positive enquiries from various factions of the motor sport world for FTR Moto's services."

The £250m Circuit of Wales represents the biggest investment in the UK automotive industry in 50 years, and last week saw the end of the first phase of consultations between the Heads of the Valleys Development Company and the communities surrounding the location for the site.

A planning application for the Low Carbon Automotive Centre of Excellence is set to be presented to Blaenau Gwent County Borough Council later this month.